Investing & Markets

Saylor: Bitcoin Set for Smart Rebound, Grok's Top 3 Altcoin Picks

Saylor: Bitcoin Set for Smart Rebound, Grok's Top 3 Altcoin Picks

While Bitcoin has experienced a notable dip this week, causing some unease among cryptocurrency enthusiasts, prominent figures like Michael Saylor, the head of MicroStrategy and a significant corporate holder of Bitcoin, remain optimistic. Saylor recently shared his positive outlook on CNBC, emphasizing the accelerating rate at which Bitcoin is being acquired by exchange-traded funds (ETFs) and public companies, a trend that significantly outpaces its mining rate. Currently, approximately 900 Bitcoins are mined daily. However, the combined daily acquisition by ETFs and businesses is projected to reach an average of 3,185 Bitcoins in 2025. This substantial disparity between supply and demand is anticipated to create a significant supply squeeze, potentially leading to a substantial and explosive appreciation in Bitcoin's price. Saylor's insights suggest that the current market correction is merely a temporary phase, a battle against technical resistances and broader macroeconomi…

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